In the past, Curbed has been able to quantify how much you need to make in an hour or in a year to afford Washington, D.C.'s rent, but for those of you who would like to look at how much you personally can afford with your income, see what Curbed has to say below.
Now, the rule of thumb is that you shouldn't spend more than 30 percent of your gross income on an apartment. So, for a quick calculation, take the total amount of income you make in a month and divide it by 30. That number is the maximum amount of rent you can afford. Be careful on where you choose to rent, though, as 25 percent of D.C. renters spend more than half of their income on rent.
Below, you'll find some quick calculations to see what you can spend on your rent. To see how much bang you can get out of your buck on monthly rent, check out Curbed DC's Curbed Comparisons.
Combined Annual Income:
Maximum Monthly Rent:
· Rent to Income: How Much Can I Afford For Rent? [Naked Apartments Blog]
· The Beginner's Guide to Renting in Washington, D.C. [Curbed DC]
· Washington, D.C. Has the Fourth Highest Rents in the Nation [Curbed DC]
· You Need $77K/Year to Afford Washington, D.C.'s Rent [Curbed DC]
· You Need to Make $28.04/Hour to Afford a Two-Bed Apartment in Washington, D.C. [Curbed DC]